Triplex In Inglewood

Triplex In Inglewood

OFFERING MEMORANDUM

2916 W. CENTURY BLVD., INGLEWOOD, CA 90303

David Yashar, ICSC Member [email protected](310) 724-8043DRE# 01102638

Omid Saleh [email protected] (310) 724-8066 DRE# 01980838

Eric Simonyan [email protected] (310) 724-8066 DRE# 01984661

Keller Williams Realty Westside

Phone: (310) 482-2500 ● Los Angeles, CA 90024 ● www.DavidYashar.com10960 Wilshire Blvd Suite 100 ●

APPROXIMATELY 2,247 SF BUILDING.

6,664 SF R2 ZONED LOT.

LOCATED ON CENTURY BLVD (LOCAL ACCESS STREET).

JUST EAST OF THE MAJOR SIGNALIZED INTERSECTION OF CENTURY & CRENSHAW BLVD.

THIS TRIPLEX CONSISTS OF 1 - 3 BEDROOM / 2 BATH AND 2 - 2 BEDROOM / 1 BATH.

GREAT ACCESSIBILITY; LOCATED BETWEEN THE 405, 105, AND 110 FREEWAYS.

1.5 MILES FROM THE CRENSHAW BLVD/I-105 METRO GREENLINE STATION.

WALKING DISTANCE TO SOFI STADIUM!

GOOD DEMOGRAPHICS; OVER 25,000 PEOPLE RESIDE WITHIN A 1-MILE RADIUS & OVER 350,000 PEOPLE RESIDE WITHIN A 3-MILE RADIUS.

JUST UNDER 2 MILES FROM THE HAWTHRONE AIRPORT/SPACEX.

Each Office Independently Owned and Operated kwcommercial.com 2

KW COMMERCIAL10960 Wilshire Blvd.,Suite 100Los Angeles, CA 90024

Confidentiality & Disclaimer

DAVID YASHARDirector0: [email protected] #01102638

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Los Angeles, CA in compliance with all applicable fair housing and equal opportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

OFFERING MEMORANDUM

PRESENTED BY:

2916 W. CENTURY BLVD., INGLEWOOD, CA 90303

http://www.kwcommercial.com/


PROPERTY OVERVIEW

KW Commercial is pleased to present this Triplex within walkingdistance of SoFi Stadium. The building is approximately 2,427 SFon 6,664 SF R2 zoned lot.

This structure have been recently renovated inside & out.

This Triplex consists of 2 - 2 bedroom / 1 bath units and 1 - 3bedroom / 2 bath unit. It is currently 100% occupied and alltenants are on a month to month tenancy.

The site has onsite parking in the front and ample street parking.

This offering is a great opportunity for an investor to own a lowmaintenance Triplex within walking distance of SoFi Stadium, andin an infill area of Los Angeles.

LOCATION OVERVIEW

The subject property is located on the south side of Century Blvd.(Local Access Street) one block east of Crenshaw Ave. It has goodfrontage with approximately 52 FEET along Century Blvd.

This Site is located walking distance to the newly developed SoFiStadium, the New Home of the Los Angeles RAMS & CHARGERSNFL Football Teams.

The location has great accessibility, located near the 405, 105 and110 Freeways. It is also 1.5 miles from the Crenshaw Blvd/I-105Metro Greenline Station and under 2 miles from Hawthorne Airport& SpaceX headquarters.

This offering is located in a densely populated area of Los Angeles,with over 25,000 people residing within a 1-mile radius and over350,000 people residing within a 3-mile radius.

Property Description

2916 W. CENTURY BLVD., INGLEWOOD, CA 90303 |


Suite Tenant NameGLA

OccupiedLease

CommenceLease

Expire

Curent Monthly

RentCurrent Rent/SF

Proforma Monthly

RentCurrent Rent/SF

1 2+1 620 m-m $2,550.00 $2,626.502 620 m-m $2,410.00 $2,482.303

2+13+2 1,000 m-m $2,630.00 $2,708.90

2,240 $7,590.00 $7,817.70

Rent Roll

Total Square Feet

Actual Proforma

Gross Rent $91,080 $93,812

TOTALS $91,080 $93,812

ANNUALIZED INCOME

Actual Proforma

$91,080 $93,812Gross Potential Rent

Less: Vacancy $0 ($1,876)

$1,395,000 $91,080 $91,936

1954 ($28,912) ($28,912)

3

Effective Gross Income

Less: Expenses

Net Operating Income $62,168 $63,024

2,247

$620.83

INVESTMENT SUMMARY

Price:

Year Built:

Tenants

SF

Price / SF:

Lot Size (SF): 6,664 ANNUALIZED EXPENSES

Actual Proforma

$16,740 $16,740

$3,500 $3,500

1

On-Site & Street

IN-R2YY

4030-009-018 $2,172 $2,172

4.5% $1,500 $1,500

Floors:

Parking Spaces:

Zoning:

APN:

Actual Cap Rate:

Proforma Cap Rate: 4.5% $2,500 $2,500

Property Taxes

Insurance

Water

Gas

Repairs & Mantinance

Management $2,500 $2,500

$28,912 $28,912Total Expenses

Expenses Per RSF $12.87 $12.87

TENANT ANNUAL SCHEDULED INCOME

Income Summary





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POPULATION 1 MILE 2 MILES 3 MILES

Total population 28,314 132,431 364,164

Median age 35.1 33.9 32.0

Median age (male) 33.3 32.1 30.3

Median age (Female) 36.0 35.2 33.6

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

Total households 9,182 43,060 117,376

# of persons per HH 3.1 3.1 3.1

Average HH income $61,227 $55,507 $50,533

Average house value $482,617 $437,177 $429,628

ETHNICITY (%) 1 MILE 2 MILES 3 MILES

Hispanic 34.5% 43.2% 49.2%

RACE (%)

White 11.7% 17.3% 23.8%

Black 60.8% 51.5% 44.3%

Asian 0.9% 1.5% 2.0%

Hawaiian 1.4% 0.4% 0.4%

American Indian 0.2% 0.3% 0.3%

Other 23.0% 26.5% 27.0%

* Demographic data derived from 2010 US Census

Demographics Map



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Triplex In Inglewood